Shoppers seem to be attracted to value
While we have seen many shoppers attracted to cheaper food produce across the supermarket sector it would appear that this particular trend is being repeated on the high street. Privately owned fashion group Peacocks has confirmed a 15.2% increase in sales in the fourth quarter of 2008 at a time when the vast majority of the UK retail sector were struggling. Peacocks is one of the leading value led clothing retailers on the high street and the significant increase in sales has surprised many.
Interestingly the company has also reported a strong start to 2009 with a positive response from the new range of clothing due out in spring/summer. Indeed an 8.3% increase in sales in the 14 week period to March 28 further reiterates the fact that the company appears to be attracting significant new business with consumers apparently looking for better value on the high Street.
This move comes at a time when the likes of Marks & Spencer and some of the higher value retailers are struggling to retain profit margins and attract new business. While recent results from Marks & Spencer were significantly better than analysts had expected there was still a substantial fall in sales and pricing pressure was evident.
Share this..
Related stories
Has Gordon Brown angered his new friend Barak Obama?
As Barack Obama pushes ahead with his "protectionism bill" to defend the US economy against foreign traders and foreign companies, it would appear that Gordon Brown is at serious odds with this strategy. It is widely known that the two men have discussed the issue since Obama's induction into the White House although Gordon Brown's public statements place him at the opposite end of the spectrum wi...
Read MoreAlistair Darling and the £20 billion tax raid
Despite the fact that last week's budget was a fairly lacklustre affair, 6 April 2010 will see a number of previously announced tax changes come into play. In total it is believed that taxpayers in the UK will be around £20 billion a year worse off due to previously announced changes with an obvious target being those on higher incomes in the UK. So what can we expect? One of the major issues,...
Read MoreSterling under pressure, but why?
As the exchange rate markets continue to beat down upon sterling the UK currency has now dipped below the $1.80 level against the dollar. A downwards move of 10% in August alone as well as a general devaluation on the markets of around 16% over the last year do not bode well for the immediate future. So what is going on?
One concern that the markets have is the state of the UK pub...
Ed Miliband calls for more powers for Ofgem
12/01/2015 Labour leader Ed Miliband believes Ofgem should be given more powers to force firms to cut gas and electricity bills in relation to the fall of wholesales prices. Ofgem does not currently have the power to force energy firms to reduce their prices. Ed Miliband has said he will fast track legislation on energy in a Commons debate next week. Oil prices have continued to fall in...
Read MoreWhere next for UK base rates?
Despite the fact that many experts, only a few weeks ago, still believed that UK base rates would bottom out at 0% it now appears as though the Bank of England's Monetary Policy Committee (MPC) is set to take a pause this month. It would seem that the introduction of quantitative easing and the apparent threat that inflation could rise substantially in the medium to longer term will see UK base ra...
Read More